Mississauga, ON -- (SBWIRE) -- 11/21/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Tembec Swings a Profit in Q4 Despite Soft US Housing Market Dampening Sales.”
Companies mentioned in this article include Tembec, Inc. (TSX:TMB).
The US housing market is in a better position than it was last year, but still far below pre-recession standards. Construction starts on new homes are slowing modestly in recent months, which puts pressure on many industries, including North American lumber producers. According to US Commerce Department data, the number of new privately-owned housing units started so far in 2013 hit a high in March of just over a 1 million unit pace. The highest level in the second quarter was a 919,000 rate. For the third quarter, September’s figure has not yet been released, but the best month reported so far was August at a seasonally-adjusted 891,000 annualized rate.
Tembec, Inc. (TSX:TMB), a Montreal-based manufacturer of forest products, including lumber, pulp, paper and specialty cellulose, noted the housing market in its earnings release on Thursday, which showed sliding sales and profits in the fourth quarter of fiscal 2013.
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